Dreamscape Networks cash advance approved to grow company

Company News

by Jessica Amir

Web hosting company, Dreamscape Networks (ASX:DN8) has had a $20 million three-year cash advance approved, which will enable it to grow in Australia and Singapore

The facility was approved by a major Australian bank and will help the company make further cash flow positive and earnings accretive acquisitions.

The business says the cash advance will also allow it to make its balance sheet work harder for shareholders.

Dreamscape Networks says having successfully purchased and integrated Net Logistics (Sydney) and Vodien Group (Singapore) it’s in a strong position for further growth.

Shares in Dreamscape Networks (ASX:DN8) are trading 2.38 per cent higher at 21.5 cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.